Analytical solutions to a structural signal extraction model:: Lucas 1972 revisited

• 成果类型: Article
• 署名作者: Bénassy, JP
• 刊物名称: JOURNAL OF MONETARY ECONOMICS
• ISSN/ISSBN: 0304-3932
• DOI: 10.1016/S0304-3932(99)00030-6
• 发表日期: 1999
• 页码: 509-521
• 关键词: signal extraction; optimal monetary policy

摘要

I construct in this article a simple adaptation of Lucas' 1972 article on the neutrality of money. A closed-form solution is derived, which allows to understand a number of positive and normative properties of the model. (C) 1999 Elsevier Science B.V. All rights reserved.